Its Bet Gone Bad, FLYi Files
For Chapter 11

By

Susan Carey Staff Reporter of THE WALL STREET JOURNAL

Updated Nov. 8, 2005 12:01 a.m. ET

Independence was the last thing, it turns out, that Independence Air needed.

For nearly a decade, Kerry Skeen ran Atlantic Coast Airlines, a successful commuter airline that shuttled people on short regional flights under the banner of United Airlines. Then, in a brash gamble in the summer of 2004, Mr. Skeen severed his affiliation with United, gave Atlantic Coast a new name -- Independence Air -- and set out to emulate JetBlue Airways, AirTran Airways and other profitable, high-flying discounters. One key difference:...